N 
0.36
+4.35%
Close of 28 Oct 2026, in HKD
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in HKD, from our data supplier.
Revenue
HK$71.3m
FY2016FY2025
Net income
−HK$14.2m
FY2016FY2025
Free cash flow
−HK$6.6m
FY2016FY2025
Shareholders' equity
HK$6.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$71.3m | HK$89.1m | HK$82.1m | HK$86.0m | HK$196.2m | HK$191.4m | HK$178.0m | HK$238.3m | HK$322.1m | HK$456.7m |
| Gross profit | HK$3.3m | HK$385,000 | −HK$28.9m | −HK$7.8m | HK$18.2m | HK$13.7m | −HK$5.8m | −HK$35.3m | −HK$47.4m | HK$608,000 |
| Operating income | −HK$14.2m | −HK$31.5m | −HK$65.9m | −HK$44.1m | −HK$17.8m | −HK$5.6m | −HK$33.3m | −HK$75.1m | −HK$92.1m | −HK$34.8m |
| Net income | −HK$14.2m | −HK$33.8m | −HK$66.4m | −HK$43.9m | −HK$19.9m | −HK$2.8m | −HK$39.0m | −HK$81.2m | −HK$99.6m | −HK$40.0m |
| Diluted earnings per share | -0.03 | -0.06 | -0.12 | -0.08 | -0.04 | -0.01 | -0.07 | -0.15 | -0.19 | -0.07 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$81.8m | HK$97.2m | HK$135.5m | HK$174.0m | HK$228.3m | HK$251.5m | HK$238.7m | HK$284.7m | HK$420.9m | HK$555.6m |
| Cash and short-term investments | HK$9.4m | HK$3.4m | HK$7.1m | HK$9.5m | HK$18.9m | HK$60.9m | HK$48.8m | HK$27.5m | HK$29.1m | HK$48.3m |
| Total liabilities | HK$75.5m | HK$78.1m | HK$82.6m | HK$54.0m | HK$53.7m | HK$223.6m | HK$223.0m | HK$225.6m | HK$269.6m | HK$330.2m |
| Debt | HK$19.3m | HK$8.7m | HK$15.0m | HK$81,000 | HK$31,000 | HK$137.6m | HK$146.3m | HK$142.4m | HK$182.3m | HK$225.9m |
| Shareholders' equity | HK$6.3m | HK$19.1m | HK$47.4m | HK$120.0m | HK$174.5m | HK$27.9m | HK$15.7m | HK$59.1m | HK$151.3m | HK$225.4m |
| Shares outstanding | 538m | 538m | 538m | 538m | 538m | 538m | 538m | 538m | 538m | 538m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$1.7m | HK$6.7m | −HK$15.7m | −HK$6.4m | −HK$39.4m | HK$14.6m | HK$25.2m | HK$40.8m | −HK$67.7m | HK$17.9m |
| Capital spending | −HK$4.9m | −HK$4.3m | −HK$866,000 | −HK$2.1m | −HK$5.8m | −HK$5.8m | −HK$1.2m | −HK$1.4m | −HK$4.7m | −HK$5.1m |
| Free cash flow | −HK$6.6m | HK$2.4m | −HK$16.6m | −HK$8.4m | −HK$45.2m | HK$8.8m | HK$24.1m | HK$39.4m | −HK$72.4m | HK$12.8m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$31.9m | HK$36.7m | HK$34.6m | HK$47.0m | HK$23.5m | HK$42.1m | HK$21.1m | HK$46.6m |
| Gross profit | HK$1.9m | HK$2.8m | HK$469,000 | −HK$5.0m | −HK$2.5m | HK$5.4m | HK$2.7m | −HK$24.3m |
| Operating income | −HK$5.6m | −HK$4.3m | −HK$9.7m | −HK$20.0m | −HK$10.0m | −HK$5.6m | −HK$2.8m | −HK$42.4m |
| Net income | −HK$665,000 | −HK$8.2m | −HK$6.1m | −HK$27.8m | −HK$13.9m | −HK$6.0m | −HK$3.0m | −HK$44.8m |
| Diluted earnings per share | -0.00 | -0.02 | -0.01 | -0.05 | -0.03 | -0.01 | -0.01 | -0.08 |
| Cash from operations | — | −HK$4.0m | HK$4.0m | −HK$5.0m | — | HK$12.0m | HK$6.0m | −HK$2.0m |
| Capital spending | — | −HK$3.0m | −HK$2.0m | −HK$3.0m | — | — | — | — |
| Free cash flow | — | −HK$7.0m | HK$2.0m | −HK$8.0m | — | — | — | — |
| Total assets | HK$73.1m | HK$81.8m | HK$93.7m | HK$97.2m | HK$97.2m | HK$121.3m | HK$121.3m | HK$135.5m |
| Cash and short-term investments | HK$1.1m | HK$9.4m | HK$3.0m | HK$3.4m | HK$3.4m | HK$3.1m | HK$3.1m | HK$7.1m |
| Debt | HK$19.2m | HK$19.3m | HK$8.8m | HK$8.7m | HK$8.7m | — | — | HK$14.9m |
| Shareholders' equity | HK$9.2m | HK$757,000 | HK$14.1m | HK$19.1m | HK$19.1m | HK$47.3m | HK$47.3m | HK$52.9m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -6.1% | -17.9% | -19.9% |
| Operating income | -31.5% | 20.3% | -5.8% |
| Net income | -31.3% | 38.9% | -9.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 2.3% | -10.1% | -0.2% | -3.1% |
| Operating margin | -28.4% | -47.4% | -25.0% | -17.2% |
| Net margin | -29.9% | -48.2% | -25.3% | -18.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -13.6 | -5.1 | -3.8 | -7.7 | -24.0 | -56.7 | -5.5 | -3.7 | -4.4 | -10.5 |
| Price to sales | 2.7 | 1.9 | 3.1 | 3.9 | 2.4 | 0.8 | 1.2 | 1.3 | 1.4 | 0.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 18 Jun 1998.
| FY1998 | FY1997 | |
|---|---|---|
| Paid in the year | 0.018 | 0.015 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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